12 Oct 2016
Everbright International and China Development Bank Enter into Strategic Cooperation Agreement
Deriving Mutual Benefits and Delivering Win-win Results while Promoting Green Development12 October 2016, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has signed the Strategic Cooperation Agreement to Provide Green Finance Support for Ecological Environment Construction (the "Agreement") with China Development Bank ("CDB"). The Agreement will reinforce the strategic cooperation between both parties in the areas of energy conservation and environmental protection.
Pursuant to the Agreement, CDB will provide in total RMB20 billion worth of financial support to Everbright International from 2016 to 2020. The scope of the cooperation covers four major business segments, namely environmental energy, environmental water, greentech and envirotech, as well as covering its overseas businesses that is aligned with development of each business segment and chimes with the national "One Belt, One Road" initiative. The financial support includes RMB8 billion for environmental energy business, RMB5 billion for environmental water business, RMB5 billion for greentech business and RMB2 billion for envirotech business. This cooperation provides strong financial support for Everbright International's new round of sustainable, steady and fast development.
As the leading enterprise in China's environmental protection industry, Everbright International has not only been invited to lead on the development of public-private partnership (PPP) standards for waste-to-energy projects by the UNECE International PPP Centre of Excellence, but also has frequently received considerable international recognition for its work on sustainable development. The Group has been selected to be included in Dow Jones Sustainability World Index, making it the only Chinese company and Hong Kong listed company that was added to the index this year. On the other hand, CDB, being the first financial institution in China that joined the United Nations Global Compact, is also devoted to promoting and supporting "sustainable development" and "green credit". With this shared vision, both parties will fully capitalize on their respective strengths and abilities to consolidate resources, in order to share and achieve a win-win situation as well as to grow together through establishing a strategy which will support the construction of ecological environments and promote green development within China.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The signing of the strategic cooperation agreement will deeply integrate Everbright International's competitive strengths in the environmental protection industry with CDB's strengths in financing to forge fully-fledged cooperation in all areas. Meanwhile, The Agreement will also provide long-term stable financial support for the Group's next phase of development."